Funding arb · Price arb /

CRCL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0344%/8h= −37.7% APRpaid last 24h −0.029%

Price spread now: Variational Omni against RISEx+0.038%7-day average −0.026% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.289%−$29 on $10k

Price spread, last 4 days (all we have)+0.527%+$53 · spread now +0.038%, 7d avg −0.026%

Together, before fees+0.239%+ Points / potential airdropVariational Omni: Active · farm board+$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.064% dearer against RISEx than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.026%): +$6 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx CRCL/USDC	91.315	0.0501	pay 0.0063% / 1h	43m 21s	$412K	$258K	10x
Short	Variational Omni CRCL	91.350	0.0157	get 0.0157% / 8h	7h 43m	$2.4M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against RISEx. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee RISExbpFee Variational OmnibpOrdersPrice spread, now +0.038%Rate

Funding earned: −$72.27
Price spread: +0.038% → −0.026%: $6.43
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$71.85
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: RISEx: live order book, 55 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy RISEx live order book, 55 min ago	0.55 bp	3.5 bp −$4	5.3 bp −$53	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.46 bp	doesn't fit	12.0 bp −$120	doesn't fit	doesn't fit

CRCL on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget CRCLUSDT	−0.0164%	8h	91.330	+0.016%	$17.4M	$36.5M	25x	as long as short
Vest CRCL-USD-PERP	−0.0091%	1h	91.050	−0.290%	—	$31K	25x	as long as short
Phemex CRCLUSDT	0.0000%	4h	91.330	+0.016%	$1.0M	$48K	10x	as long as short
Gate CRCL_USDT	+0.0024%	8h	91.340	+0.027%	$7.9M	$26.3M	50x	as long as short
Lighter RH CRCL	+0.0032%	1h	91.285	−0.033%	$983K	$2.4M	10x	as long as short
Coinbase International CRCL-PERP-INTX	+0.0032%	1h	91.190	−0.137%	$872K	$505K	10x	as long as short
Aftermath Perps CRCLUSD	+0.0038%	1h	91.284	−0.034%	$2K	$29K	5x	as long as short
Bybit CRCLUSDT	+0.0038%	8h	91.290	−0.027%	$14.9M	$26.5M	50x	as long as short
Arcus CRCL-USD	+0.0040%	1h	91.250	−0.071%	$95K	$287K	10x	as long as short
tradeXYZ xyz:CRCL	+0.0050%	1h	91.217	−0.107%	$67.3M	$44.2M	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps CRCL-USD	+0.0050%	1h	91.227	−0.096%	$377K	$1.2M	10x	as long as short
SoDEX CRCL-USD	+0.0050%	1h	91.260	−0.060%	$46K	$3K	10x	as long as short
Ondo Perps CRCL-USD.P	+0.0050%	1h	91.320	+0.005%	$1.1M	$4.8M	10x	as long as short
QFEX CRCL-USD	+0.0065%	1h	91.280	−0.038%	$1.3M	$1.7M	10x	as long as short
Pacifica CRCL	+0.0100%	1h	91.300	−0.016%	$134K	$159K	10x	as long as short
KuCoin CRCLUSDTM	+0.0100%	8h	91.320	+0.005%	$2.6M	$1.7M	20x	as long as short
ApeX Omni CRCLUSDT	+0.0100%	1h	91.320	+0.005%	$67K	$4K	50x	as long as short
Orderly PERP_CRCL_USDC_mythos	+0.0100%	8h	91.290	−0.027%	$910	$1K	10x	as long as short
Aevo CRCL-PERP	+0.0104%	1h	91.267	−0.053%	$4	—	10x	as long as short
Paradex CRCL-USD-PERP	+0.0143%	8h	91.296	−0.021%	$420	$766	5x	as long as short
Variational Omni CRCLshort	+0.0157%	8h	91.350	+0.038%	$2.4M	$3.3M	—
Lighter CRCL	+0.0192%	1h	91.295	−0.022%	$2.9M	$2.1M	10x	as long as short
Aster CRCLUSDT	+0.0221%	8h	91.344	+0.032%	$1.0M	$5.0M	20x	as long as short
Binance CRCLUSDT	+0.0238%	8h	91.290	−0.027%	$104.9M	$387.8M	50x	as long as short
Extended CRCL_24_5-USD	+0.0240%	1h	91.247	−0.075%	$1.1M	$5.1M	10x	as long as short
Phoenix CRCL	+0.0254%	1h	91.375	+0.066%	$27K	$66K	10x	as long as short
OKX CRCL-USDT-SWAP	+0.0294%	8h	91.290	−0.027%	$22.2M	$61.5M	50x	as long as short
Nado CRCL-PERP	+0.0356%	1h	91.233	−0.089%	$134K	$109K	3x	as long as short
BloFin CRCL-USDT	+0.0358%	8h	91.280	−0.038%	$1.1M	$1.7M	20x	as long as short
GRVT CRCL_USDT_Perp	+0.0394%	8h	91.380	+0.071%	$62K	$1.1M	10x	as long as short
Deribit CRCL_USDC-PERPETUAL	+0.0408%	1h	91.280	−0.038%	$5K	$769K	10x	as long as short
Injective CRCL/USDC PERP	+0.0440%	1h	91.900	+0.641%	$5K	$19K	30x	as long as short
RISEx CRCL/USDClong	+0.0501%	1h	91.315	long leg	$412K	$258K	10x
edgeX CRCLUSDC	+0.0927%	4h	91.362	+0.051%	$52K	$271K	10x	as long as short